Funding arb · Price arb /

TAO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0595%/8h= +65.2% APRpaid last 24h +0.177%

Price spread now: Reya against Gate−0.256%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.256% cheaper against Gate than usual: you would sell low and buy high (spread −0.256% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 34 hours of funding at the current rate (+$18 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAO_USDT	319.00	0.0100	pay 0.0050% / 4h	3h 58m	$12.9M	$49.2M	50x
Short	Reya TAORUSDPERP	318.18	0.0695	get 0.0087% / 1h	58m 55s	$366	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GatebpFee ReyabpOrdersPrice spread, now −0.256%Rate

Funding earned: $124.99
Price spread: −0.256% → 0.000%: −$25.64
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: $78.35
Costs to cover: 0.210%
Break-even: 2.6 days

Slippage unknown: Gate: live order book, 5 min ago; Reya: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 5 min ago	3.16 bp	16.5 bp −$16	42.7 bp −$427	60.4 bp −$6,044	95.5 bp −$47.7K
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TAO on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk TAO-USD	−0.2086%	1h	311.96	−2.207%	$167K	$47K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	319.20	+0.063%	$128K	$88K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	318.57	−0.133%	$21K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	318.78	−0.069%	$40K	$572K	20x	as long as short
Pacifica TAO	+0.0100%	1h	319.44	+0.137%	$378K	$371K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	318.99	−0.003%	$90.5M	$435.6M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	319.68	+0.213%	$65.5M	$129.3M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	320.00	+0.313%	$25.8M	$106.2M	50x	as long as short
Gate TAO_USDTlong	+0.0100%	4h	319.00	long leg	$12.9M	$49.2M	50x
MEXC TAO_USDT	+0.0100%	4h	320.01	+0.317%	$115.2M	$130.4M	300x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	319.04	+0.013%	$19.0M	$28.0M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	319.99	+0.310%	$35.8M	$48.2M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	319.18	+0.056%	—	$30.7M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.96	−0.952%	$42K	$283K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	317.42	−0.494%	$531K	$942K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	315.82	−0.997%	$47K	$268K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	318.20	−0.251%	$117K	$613K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0100%	4h	319.83	+0.260%	$61K	$281K	10x	as long as short
SunX TAO-USDT	+0.0100%	4h	319.90	+0.282%	$1K	$1.8M	20x	as long as short
HTX TAO-USDT	+0.0100%	4h	320.14	+0.357%	$128K	$423K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	319.01	+0.003%	$3.4M	$7.9M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	320.18	+0.371%	$176K	$998	3x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0174% / S +0.0071%	1h	318.58	−0.130%	$453K	—	100x	as long as short
Arcus TAO-USD	+0.0186%	1h	319.59	+0.185%	$84K	$545K	5x	as long as short
Aster TAOUSDT	+0.0194%	4h	319.12	+0.039%	$1.1M	$8.0M	50x	as long as short
Paradex TAO-USD-PERP	+0.0210%	8h	319.53	+0.166%	$14K	$1K	10x	as long as short
Variational Omni TAO	+0.0233%	4h	316.35	−0.830%	$5.4M	$8.5M	—	as long as short
BloFin TAO-USDT	+0.0340%	4h	319.28	+0.088%	$4.4M	$10.8M	100x	as long as short
Bullet TAO-USD	+0.0432%	1h	319.02	+0.006%	$12K	$17K	20x	as long as short
Kraken Futures PF_TAOUSD	+0.0479%	1h	319.93	+0.293%	$5.8M	$20.2M	50x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0521%	1h	319.84	+0.264%	$29K	$1.5M	25x	as long as short
Phoenix TAO	+0.0537%	1h	316.20	−0.878%	$331K	$519K	5x	as long as short
Injective TAO/USDC PERP	+0.0571%	1h	317.85	−0.361%	$23K	$370	12x	as long as short
Reya TAORUSDPERPshort	+0.0695%	1h	318.18	−0.256%	$366	—	20x
Extended TAO-USD	+0.0928%	1h	320.02	+0.318%	$924K	$2.2M	25x	as long as short
Coinbase International TAO-PERP-INTX	+0.0984%	1h	320.30	+0.408%	$1.5M	$6.0M	50x	as long as short
RISEx TAO/USDC	+0.1141%	1h	319.47	+0.147%	$422K	$584K	5x	as long as short
01 Exchange TAOUSD	+0.1248%	1h	320.02	+0.320%	$3K	$4K	5x	as long as short
Backpack TAO_USDC_PERP	+0.1383%	1h	319.34	+0.107%	$318K	$816K	10x	as long as short
Lighter TAO	+0.2128%	1h	320.56	+0.489%	$1.7M	$5.8M	5x	as long as short
Nado TAO-PERP	+0.2190%	1h	318.06	−0.294%	$880K	$2.0M	10x	as long as short
Hyperliquid TAO	+0.2968%	1h	319.90	+0.282%	$104.2M	$87.6M	5x	as long as short